French industrial gas maker Air Liquide SA (AIQUY.PK) reported Friday a higher profit for the full year 2011, as turnover grew about 7 percent helped by strong activity levels, particularly in developing economies.
Benoît Potier, chairman and CEO of the company said, "In 2011, Air Liquide continued its growth and deployment of its business model, particularly in developing economies where sales growth exceeds 20% over the year."
Total turnover for the year grew 7.2 percent to 14.46 billion euros from 13.49 billion euros in the preceding year.
Gas & Services unit revenues improved 8 percent, driven mainly by developing economies, which accounted for 21 percent of sales. There was a strong growth in Large Industries, with 14.1 percent increase in turnover, benefited from several start-production units in the first half of the year, the company stated.
Meanwhile, Engineering and Construction unit revenues declined 6.1 percent from a year earlier.
The company noted that with the diversity of its activities and geographical presence, overall growth was only slightly impacted by the tsunami in Japan, Arab spring and floods in Australia and Thailand.
For the full year, the company's net income, Group share, increased 9.4 percent to 1.54 billion euros from 1.4 billion euros in the previous year. EBIT, a key bottom line metric, improved 7 percent to 2.41 billion euros.
The company also said its board will propose a 2011 dividend of 2.50 euros per share, up 6.4 percent from a year ago, payable on May 16.
"Investment decisions, which amounted to 2 billion euros in 2011 with over 60% in developing areas, the new contracts and continuous innovation to expand its business, enable the Group to strengthen its presence in growth markets, and be confident in its medium-term program under the 2015 ALMA. In this context, and barring any major degradation of the situation, Air Liquide continues to pursue growth in its net profit in 2012," Potier added.
In Paris Exchange, Air Liquide shares closed Thursday's regular trading at 98.51 euros, up 1.32 percent.
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